HOME › Research Insight › Product Launches, Acquisitions, Collaborations, and Partnerships to Maintain Their Dominant Position.in the Sports Medicine Market

The global sports medicine market is projected to reach USD 8.24 Billion by 2022 from USD 5.78 Billion in 2017, at a CAGR of 7.4% during the forecast period. The sports medicine market is well established owing to the dominance by prominent sports medicine and orthopedic players. In 2017, Arthrex, (US), Smith & Nephew (UK), DePuy Synthes (US), Stryker (US), dominated the sports medicine market and accounted for approximately 70% to 75% share of the global sports medicine market.

The market players in the sports medicine arena adopted various strategies like product launches, acquisitions, collaborations, and partnerships to maintain their dominant position. Product launches was the most widely adopted strategy by many players during 2014–2017. For instance, Arthrex launched more than 15 products from 2014–2016 in the sports medicine arena. Similarly, Smith & Nephew, DePuy Synthes, CONMED Corporation, and Zimmer Biomet also launched a number of products in the market.

Arthrex acquired the largest share of the global sports medicine market in 2016. The company offers a comprehensive range of sports medicine devices with application in shoulder, knee, elbow, hip, hand & wrist, ankle & foot, and orthobiologics. To maintain its leading position and increase its customer base in the sports medicine market, the company mainly focuses on product launches. During the period of 2014 to 2016, the company launched more than fifteen products in the market. To strengthen its product portfolio and innovate products the firm also focuses on partnerships. In 2017, the company entered into a partnership with the Michigan State University College of Engineering and Medicine (US) to innovate new products.

Smith & Nephew held the second position in the global sports medicine market in 2016. The company offers an extensive portfolio of sports medicine devices used during shoulder and knee surgeries. The company’s knee and shoulder arthroscopy devices are popular among end users. Smith & Nephew has a wide geographic reach owing to its various subsidiaries and strong distribution network. For instance, the company acquired DeOst LLC and DC LLC (Russia) in 2015 and ArthroCare Corporation (US) in 2014 to enhance its geographic presence and increase its product portfolio.